The Instituto de Crédito Oficial (ICO) has granted financing of up to 65 million euros to ITP Aero, a world leader in the design, development, manufacture and maintenance of aero engines. The loan is intended to partially finance ITP Aero's 2025 - 2033 Investment Plan, whose performance is focused on the expansion and technological progress of the multinational company.
With its headquarters in Zamudio (Vizcaya) and a presence in Spain, the United Kingdom, Mexico, the United States and India, ITP Aero has more than 5,700 employees and is currently one of the world leaders and a benchmark in the aeronautical engines and components sector. ITP Aero plays a key role in 40% of all annual commercial aircraft engine deliveries. With more than 5,000 engines in service, the company powers 6 aircraft take-offs every minute, collaborating with all major engine manufacturers to advance aviation globally.
Climate commitment
With 35 years of experience in its sector, ITP Aero maintains a strategy of investing in air transport decarbonisation projects through the development of disruptive, more efficient and sustainable technologies.
In line with this objective, ITP Aero has already launched several R&D projects related to electrification technologies, hydrogen utilisation, as well as the use of sustainable aviation fuel (SAF).
Long-standing relationship
ITP Aero and ICO have maintained an ongoing relationship since 2013, whose bonds of trust are strengthened once again through this new financial operation with the common goal of supporting key sectors of the economy, such as sustainability and technological innovation.
About ICO
ICO is a public entity attached to the Ministry of Economy, Trade and Enterprise of the Government of Spain. ICO has become a benchmark in financing both SMEs and large investment projects and contributes to sustainable growth, promoting those economic activities that, due to their social, cultural, innovative or environmental importance, are worthy of promotion and development. www.ico.es
About ITP Aero
As a world leader in future flight technologies, ITP Aero specialises in the design, development, manufacture and delivery of engine lifecycle propulsion services that drive innovation, efficiency and sustainability. With a 35-year track record in innovation and a growing workforce of more than 5,700 professionals spread across 14 sites in 5 countries, ITP Aero plays a key role in 40% of all annual commercial aircraft engine deliveries. With more than 5,000 engines in service, ITP Aero powers 6 aircraft take-offs every minute, working with all major engine manufacturers (OEMs) to power aviation globally.
cloud technology axon
With a target size of €250 million, the fund aims to complete betwee...
